Evening Comment – #Wheat #Corn #Soybeans – 14/05/2015

Export sales were actually weak. 257kT on wheat, in the low of the expectation range, Corn (373kT) and Beans (225kT) much less than expected (respectively 600/950 and 350/750). Only beans have reacted accordingly printing red numbers. But Wheat was on fire and brought Corn slightly up in a lower extent. Lower USD seems to be the trigger of this nice rebound, some are saying it is the dead cat bounce. But scaremongering stories are obviously surfacing: funds will cover their short, rust concerns due to too much rain in southern plains, El Niño! Very difficult markets to trade!

 

Classic. With traders away in holidays in France (not only in France though), MATIF up +5.00. Helped by Chicago’s bull run to be honest. Decent for a public holidays, close to 28,000 lots traded on the new crop.

 

EURUSD came above 1.14 but relaxed slightly to come back around 1.1380.

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